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Which of the following is an indirect tax?
Excise Duty
Sales Tax
Custom Duty
All of these
- Excise Duty: This is a tax on the production or sale of a good within a country. It is paid by the manufacturer, who then typically passes the cost onto consumers through higher prices.
- Sales Tax: This is levied on the sale of goods and services. The business collects the tax from consumers when they purchase goods and then remits it to the government.
- Custom Duty: This is a tariff or tax on goods transported across international borders. Importers generally pay these duties, who may pass the costs onto consumers.
- All of these: All these taxes are considered indirect because they are initially paid by one entity (manufacturers, retailers, importers) but ultimately borne by the consumers.
By: santosh ProfileResourcesReport error
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